N80bn discovered in sacked MD’s bank accounts
Image Credit: kemifilani- The Economic and Financial Crimes Commission (EFCC) has arrested managing directors and top officials from Port Harcourt, Warri, and Kaduna Refining Companies over alleged mismanagement of nearly $3 billion meant for the rehabilitation of these facilities.
- The funds under investigation include $1.56 billion for Port Harcourt, $740 million for Kaduna, and $657 million for Warri refineries.
- It was revealed that a sacked managing director was found with N80 billion in their bank account, raising concerns about financial misconduct.
- Experts and industry operators criticized the Nigerian National Petroleum Company Limited for misleading the public about the refinery operations, especially given the poor output since resumption in late 2024.
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